Essays on Taxation Law and Practice Assignment

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The paper 'Taxation Law and Practice' is a great example of a Macro and Microeconomics Assignment. This is an independent statutory office advising the government of Australia on ways of improving tax administration mainly having the interest of the taxpayer as its priority. This office has been established under the Inspector-General of Taxation Act 2003 and has mandated the Inspector general of taxation to review systems established by the Australian Tax Office to administer tax laws and also administrative systems established by tax laws affecting taxpayers. What is the objective of the Inspector-General of Taxation? These are the core functions of the Inspector – General of taxation as defined in the Inspector-General of Taxation Act 2003.

They include Reviewing systems established by the Australian Tax Office to administer tax laws especially those dealing with communication to the taxpayers. Reviewing the administrative systems established under the tax laws Reporting to the Australian government on the outcome and subject of the reviews while recommending required changes in the tax administration systems. Where are the Inspector-General of Taxation and his staff based? Inspector-General of Taxation and his staff are based in Sydney Australia an independent office of the executive arm of government. Does the Inspector-General of Taxation deal with individual taxpayer matters No.

The office Inspector-General of Taxation does not deal with individual taxpayers as this is carried out by the officer of the ombudsman. Who has the statutory responsibility for administering the Commonwealth tax system? The parliament of the commonwealth through the office of the Governor-General has the statutory responsibility of administering the commonwealth tax system as outlined in the Commonwealth of Australia Constitution Act. From where does the Commonwealth Government derive its power to make laws with respect to taxation? Section 51(ii) of the constitution of Australia gives the Commonwealth Government its power to make laws with respect to taxation which is non-discriminatory to the various states. What does ITAA36 stand for? ITAA36 stands of Income Tax Assessment Act 1936.

It is a statutory law enacted by the parliament of Australia to regulate the taxation of liable individuals in Australia. Which Divisions of the tax legislation contain the provisions relating to capital gains tax? Capital Gains Tax is part of the commonwealth taxes that relates to gains investments. The provisions relating to capital gains tax are stated in the Income Tax Assessment Act 1997 (ITAA97) section 104-5. Is a definition of the term ‘ income’ found anywhere in the tax legislation? Income Tax Assessment Act 1936 (ITAA36) Section 25A of Division 2 defines assessable income for tax purposes in Australia but does not categorically define the term ‘ Income’ per se. What is the title of Taxation Ruling TR98/17?

Who does this Ruling apply to? The title of the Taxation Ruling TR98/17 is Income tax: residency status of individuals entering Australia. The ruling relates the issue of residency of individuals entering Australia which is an important aspect in the determination of taxable income.

The individual affected by the ruling are; Migrants; academics teaching or studying in Australia; students studying in Australia; visitors on holiday; Workers with pre-arranged employment contracts.

References

Books, L 2010, Taxation in Australia: Capital gains Tax in Australia, Superannuation in Australia, tertiary Education Fees in Australia, General Books, Canberra.

Clark, BC & Miller, LG 2000, Taxation and sport in Australia, Federation Press, Melbourne.

Income Tax Assessment Act 1997, Australian Tax office Legal database 2010, accessed 16 August 2011, http://law.ato.gov.au/atolaw/Browse.htm?ImA=fake&Node=0~0~1&OpenNodes =,0~0,0&DBTOC=05%3APLR%3ATaxation%3AINCOME%20TAX%20ASSESSMENT%20ACT%201997%3AView%20list%20of%20provisions%3B#0~0~1

Mills, S 2007, Taxation in Australia, Macmillan and Co., California.

Ross, WP 2008, Income taxation in Australia: principles of income, deductibility, and tax accounting, 1st ed, Law Books Co, Perth.

Valerie, AB 2009, Defiance in Taxation and Governance: Resisting and Dismissing authority in Democracy, Edward Elgar Publishing, New York.

Woellner, R, Barkoczy, S & Evans, C 2009, Australian Taxation Law 2009, CCH Australia Limited, Brisbane.

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